Uniswap lost $4.7 million in ETH in a cyberattack

The Uniswap v3 protocol faced a phishing attack aimed at collecting personal data in order to steal cryptocurrencies from users’ wallets. As a result, the hacker stole $4.7 million worth of ETH.

Yesterday, July 11, MetaMask security expert Harry Denley was the first to report on Twitter that during a cyberattack, a criminal sent malicious tokens to 73,399 addresses of Uniswap users to steal assets. The phishing attack was built around sending users the UniswapLP token disguised as the Uniswap V3: Positions NFT contract.

Interested users followed a link to a fraudulent website that allegedly allows you to exchange new tokens for a Uniswap UNI token worth $5.34. However, instead of converting, the malicious site copied and sent the address and information about the client from the user’s browser to the attackers’ command center, who stole cryptocurrency from users’ wallets.

Binance CEO Changpeng Zhao drew maximum attention to the Uniswap incident. He called the cyberattack a “potential exploit” of the Uniswap protocol and clarified that at least $4.7 million in ETH was stolen as a result of the hack. At the same time, many members of the crypto community believe that the losses can be much greater.

Then Zhao, after negotiating with the Uniswap team, refuted his hypothesis, stating that it was a phishing attack and not a problem with the protocol:

“The protocol is secure. The attack looks like a phishing attack. Both teams responded quickly. Everything is fine. Sorry for the alarm. Learn to protect yourself from phishing. Do not click on the links,” Zhao tweeted.

At the same time, Internet service provider Atlas VPN believes that the Cardano blockchain, amid the desire to oust Ethereum from the market, is becoming an attractive target for phishing. According to experts, Cardano users are more likely than others to be subjected to such attacks.